USDA Boxed Beef Cutout Midday Prices for January 11

January 11 (Bloomberg) -- This table details boxed beef cutout prices supplied daily by the U.S. Department of Agriculture. Prices and loads traded are as of 11:30 a.m. U.S. central time.

Prices are determined from cuts in dollars a hundredweight and vary between higher-quality choice cuts and select beef cuts for sale f.o.b. Omaha, Nebraska.

CHOICE SELECT

600-900 600-900 ------------------------------------------------------------------------------- Current Cutout Values: 194.22 183.81 Change from prior day: 0.41 (0.15) ------------------------------------------------------------------------------- Choice/Select spread: 10.41

Total Load Count (Cuts, Trimmings, Grids): 89 ------------------------------------------------------------------------------- COMPOSITE PRIMAL VALUES Primal Rib 266.87 247.51 Primal Chuck 168.58 166.84 Primal Round 174.95 173.00 Primal Loin 260.98 225.85 Primal Brisket 135.99 136.18 Primal Short Plate 131.04 135.76 Primal Flank 104.46 99.23 -------------------------------------------------------------------------------- LOAD COUNT AND CUTOUT VALUE SUMMARY FOR PRIOR 5 DAYS

CHOICE SELECT Date Choice Select Trim Grinds Total 600-900 600-900 01/10 53 47 26 43 169 193.81 183.96 01/09 127 83 7 49 266 193.55 183.53 01/08 92 82 14 30 218 193.98 183.31 01/07 97 57 21 32 207 193.49 182.60 01/04 94 50 21 31 196 194.26 182.22 -------------------------------------------------------------------------------- Current 5 Day Simple Average: 193.82 183.13 -------------------------------------------------------------------------------- NATIONAL BOXED BEEF CUTS - NEGOTIATED SALES FOB Plant basis negotiated sales for delivery within 0-21 day period. Prior days sales after 1:30pm are included.

CURRENT VOLUME - (one load equals 40,000 pounds)

Choice Cuts 49.25 loads 1,970,096 pounds Select Cuts 20.65 loads 826,148 pounds Trimmings 5.29 loads 211,748 pounds Ground Beef 14.24 load 569,555 pounds ------------------------------------------------------------------------------- Choice Cuts, Fat Limitations 1-6 (IM) = Individual Muscle IMPS/FL Sub-Primal # of Total Price Weighted

rades Pounds Range Average ------------------------------------------------------------------------------- 109E 1 Rib, ribeye, lip-on, bn-in 9 32,144 488.31 555.00 507.56 112A 3 Rib, ribeye, bnls, light 3 2,796 606.39 630.00 613.02 112A 3 Rib, ribeye, bnls, heavy 13 83,863 560.00 598.39 574.51 113C 1 Chuck, semi-bnls, neck/off 4 5,800 199.03 218.00 212.21 114 1 Chuck, shoulder clod 3 2,305 210.00 218.89 212.13 114A 3 Chuck, shoulder clod, trmd 19 94,375 220.00 233.00 222.98 114D 3 Chuck, clod, top blade 6 42,628 257.75 290.00 279.51 114E 3 Chuck, clod, arm roast 3 11,304 265.50 270.50 266.31 114F 5 Chuck, clod tender (IM) 5 18,221 290.00 324.00 314.46 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 14 79,184 236.60 252.00 244.58 116B 1 Chuck, chuck tender (IM) 8 30,425 225.00 250.00 236.54

3 Chuck roll, retail ready 120 1 Brisket, deckle-off, bnls 23 284,009 200.00 220.00 208.26 120A 3 Brisket, point/off, bnls 3 7,939 350.00 360.00 350.19 123A 3 Short Plate, short rib 6 6,718 366.50 398.00 382.82 130 4 Chuck, short rib 8 16,581 264.07 333.00 294.07 160 1 Round, bone-in 0 0 161 1 Round, boneless 4 10,634 221.30 227.00 224.36

3 Round, bnls/peeled heel-out 167A 4 Round, knuckle, peeled 15 47,418 225.00 257.00 241.74 168 1 Round, top inside round 4 22,980 210.00 225.00 217.51 168 3 Round, top inside round 17 267,910 222.30 240.00 224.54 169 5 Round, top inside, denuded

3 Round, top inside, side off 170 1 Round, bottom gooseneck 5 2,895 211.00 232.00 221.28 171B 3 Round, outside round 10 28,625 229.30 250.00 234.26 171C 3 Round, eye of round (IM) 7 26,341 249.07 266.00 256.25 174 1 Loin, short loin, 2x3 174 3 Loin, short loin, 0x1 4 3,483 515.00 563.00 532.23 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy

1 Loin, strip loin bnls. 1x1 5 7,050 455.00 457.00 455.56 180 3 Loin, strip, bnls, 0x1 13 81,920 498.82 539.50 509.40 184 1 Loin, top butt, bnls, heavy 184 3 Loin, top butt, boneless 8 58,123 325.00 353.00 333.64 185A 4 Loin, bottom sirloin, flap 17 77,603 377.00 399.22 385.91 185B 1 Loin, ball-tip, bnls, heavy 10 167,035 205.00 240.00 239.59 185C 1 Loin, sirloin, tri-tip (IM) 185D 4 Loin, tri-tip, pld (IM) 189A 4 Loin, tndrloin, trmd, heavy 24 218,717 944.00 999.51 960.49 191A 4 Loin, butt tender, trimmed 193 4 Flank, flank steak (IM) 5 11,853 410.00 446.00 419.29 ------------------------------------------------------------------------------- Select Cuts, Fat Limitations 1-6 (IM) = Individual Muscle IMPS/FL Sub-Primal # of Total Price Weighted

Trades Pounds Range Average ------------------------------------------------------------------------------- 109E 1 Rib, ribeye, lip-on, bn-in 3 8,507 463.00 475.00 467.50 112A 3 Rib, ribeye, bnls, light 112A 3 Rib, ribeye, bnls, heavy 6 7,099 525.00 538.75 526.55 113C 1 Chuck, semi-bnls, neck/off 114 1 Chuck, shoulder clod 6 52,422 201.00 220.00 205.73 114A 3 Chuck, shoulder clod, trmd 114D 3 Chuck, clod, top blade 114E 3 Chuck, clod, arm roast 114F 5 Chuck, clod tender (IM) 3 3,598 280.00 325.00 295.72 115 1 Chuck, 2-piece, boneless 116A 3 Chuck, roll, lxl, neck/off 7 27,290 241.50 255.00 249.99 116B 1 Chuck, chuck tender (IM) 7 31,737 230.00 250.00 234.17

3 Chuck roll, retail ready 0 0 120 1 Brisket, deckle-off, bnls 10 49,270 203.54 220.00 209.45 120A 3 Brisket, point/off, bnls 0 0 123A 3 Short Plate, short rib 6 11,811 340.00 391.00 350.20 130 4 Chuck, short rib 4 3,325 249.00 276.00 272.39 160 1 Round, bone-in 0 0 161 1 Round, boneless 4 2,408 221.00 227.00 222.90

3 Round, bnls/peeled heel-out 0 0 167A 4 Round, knuckle, peeled 8 17,177 235.00 252.00 238.89 168 1 Round, top inside round 8 45,231 205.00 224.39 207.92 168 3 Round, top inside round 7 92,001 222.00 237.00 223.45 169 5 Round, top inside, denuded 0 0

3 Round, top inside, side off 0 0 170 1 Round, bottom gooseneck 0 0 171B 3 Round, outside round 3 8,962 229.00 238.00 231.30 171C 3 Round, eye of round (IM) 8 20,886 230.00 255.00 242.98 174 1 Loin, short loin, 2x3 0 0 174 3 Loin, short loin, 0x1 4 10,663 415.00 438.00 431.87 175 3 Loin, strip loin, 1x1 180 1 Loin, strip, bnls, heavy 0 0

1 Loin, strip loin bnls. 1x1 180 3 Loin, strip, bnls, 0x1 7 27,175 400.00 444.51 429.87 184 1 Loin, top butt, bnls, heavy 184 3 Loin, top butt, boneless 6 15,646 259.50 300.00 271.83 185A 4 Loin, bottom sirloin, flap 3 1,865 375.05 381.50 380.06 185B 1 Loin, ball-tip, bnls, heavy 6 40,676 219.00 240.00 236.38 185C 1 Loin, sirloin, tri-tip (IM) 4 6,647 274.00 299.00 283.82 185D 4 Loin, tri-tip, pld (IM) 0 0 189A 4 Loin, tndrloin, trmd, heavy 14 112,703 800.00 865.00 863.51 191A 4 Loin, butt tender, trimmed 3 3,084 800.00 810.00 802.06 193 4 Flank, flank steak (IM) ------------------------------------------------------------------------------- CHOICE, SELECT & UNGRADED CUTS FatLimitations 1-6 (IM) = Individual Muscle ------------------------------------------------------------------------------- 124 4 Rib, Back Ribs, Fresh 124 4 Rib, Back Ribs, Frozen 3 21,609 96.00 115.00 97.37 121D 4 Plate, Inside Skirt (IM) 8 20,385 344.00 375.00 362.45 121C 4 Plate, Outside Skirt (IM) 14 24,207 459.07 477.50 466.65 121E 6 Outside Skirt, pld (IM)

Cap, Wedge Meat & (IM) Lean 12 17,263 258.05 265.30 261.05

Pectoral Meat 18 121,716 250.74 274.89 255.20 ------------------------------------------------------------------------------- GB - STEER/HEIFER SOURCE - 10 Pound hub Basis - Coarse and Fine Grind ------------------------------------------------------------------------------- Ground Beef 73% 9 95,943 158.99 173.00 165.36 Ground Beef 75% Ground Beef 81% 9 15,999 202.58 223.05 212.06 Ground Beef 85% 0 0 Ground Beef 90% 0 0 Ground Beef 93% 6 67,457 269.00 278.50 271.00 Ground Beef Chuck 80% 11 114,087 200.00 232.00 220.01 Ground Beef Round 85% 5 8,979 237.00 243.00 242.35 Ground Beef Sirloin 90% 0 0 ------------------------------------------------------------------------------- BLENDED GB - STEER/HEIFER/COW SOURCE- 10 Pound Chub Basis - Coarse & Fine Grind ------------------------------------------------------------------------------- Blended Ground Beef 73% Blended Ground Beef 75% Blended Ground Beef 81% Blended Ground Beef 85% Blended Ground Beef 90% Blended Ground Beef 93% Blended Ground Beef Chuck 80% Blended Ground Beef Round 85% Blended Ground Beef Sirloin 90% -------------------------------------------------------------------------------- BEEF TRIMMINGS - STEER/HEIFER SOURCE - Fresh Combos & Frozen Boxed -------------------------------------------------------------------------------- Fresh 50% lean trimmings 8 187,248 64.00 76.00 72.83 Frozen 50% lean trimmings -------------------------------------------------------------------------------- FAT LIMITATIONS (FL) DESCRIPTION Maximum Average Fat Thickness Maximum Fat at any point 1. 3/4" (19mm) 1.0" 2. 1/4" (6mm) 1/2" 3. 1/8" (3mm) 1/4" 4. Practically free (75% surface lean exposed) 1/8" 5. Peeled/Denuded 1/8" 6. Peeled/Denuded, surface membrane removed 1/8" -------------------------------------------------------------------------------- Items that have no entries indicate there were trades but not reportable because they did not meet the daily 3/70/20 guideline. Please refer to weekly LM_XB459 as the item may qualify. --------------------------------------------------------------------------------

A cutout value is an average of the prices tallied for cuts of beef from cattle carcasses weighing 550-850 pounds. Cutout values are separated into three main product types. Fabricated loads are beef cuts taken from an animal's ribs, chuck, round, loin, brisket, short plate and flank; 50 percent loads are 50 percent lean beef trimmings. Ground loads may contain 73, 75, or 80 percent ground beef. A typical refrigerated truckload carries 40,000 pounds.

Choice 1-3 grade is a better grade than Select 1-3, partly because Choice cuts have more fat, or marbling, than Select cuts.

Grade quality is determined using a 1-5 yield grade scale. A rating of 1 is the highest ratio of muscle to fat, while 5 is the lowest. Marbling is an important flavor factor.

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